Crocs (NASDAQ:CROX) Sets New 52-Week High – Still a Buy?

Crocs, Inc. (NASDAQ:CROX) reached a new 52-week high during trading on Wednesday. The stock traded as high as $157.00 and last traded at $156.8350, with a volume of 7,329 shares changing hands. The stock had previously closed at $153.61.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BTIG Research reiterated a “neutral” rating on shares of Crocs in a research report on Thursday, October 29th. Robert W. Baird set a $163.00 price target on shares of Crocs in a research report on Friday, July 31st. Seaport Research Partners upped their price target on shares of Crocs from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Needham & Company LLC upped their price target on shares of Crocs from $150.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Finally, Wall Street Zen raised shares of Crocs from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.30.

Crocs Price Performance

The business’s 50-day moving average price is $122.91 and its 200 day moving average price is $111.15. The company has a market capitalization of $6.99 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.27 and a beta of 1.49. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.96.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, October 29th. The textile maker reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.38. Crocs had a net margin of 16.20% and a return on equity of 49.35%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the firm posted $2.92 EPS. Crocs’s revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Crocs, Inc. will post 14.62 EPS for the current fiscal year.

Insider Transactions at Crocs

In other Crocs news, Director Beth Kaplan acquired 885 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $112.12 per share, for a total transaction of $99,226.20. Following the completion of the transaction, the director owned 15,259 shares of the company’s stock, valued at approximately $1,710,839.08. This represents a 6.16% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Rees sold 40,000 shares of Crocs stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $152.89, for a total value of $6,115,600.00. Following the sale, the chief executive officer directly owned 673,293 shares of the company’s stock, valued at $102,939,766.77. This represents a 5.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 91,519 shares of company stock valued at $13,719,457. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CROX. Root Financial Partners LLC boosted its position in Crocs by 96.3% during the first quarter. Root Financial Partners LLC now owns 320 shares of the textile maker’s stock valued at $27,000 after buying an additional 157 shares during the period. Versant Capital Management Inc increased its holdings in shares of Crocs by 95.9% in the third quarter. Versant Capital Management Inc now owns 290 shares of the textile maker’s stock worth $34,000 after buying an additional 142 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Crocs in the second quarter worth about $42,000. Heritage Family Offices LLP purchased a new position in shares of Crocs in the third quarter worth about $45,000. Finally, Allworth Financial LP bought a new stake in shares of Crocs in the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

About Crocs

Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.

The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.

In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.